Well, my husband and I have been members since 2001, so we've only been members for a short while. However, I really like the flexability that owning with DVC offers. When we don't want to vacation at WDW (blasphemy, I know), we rent our points out. We are allotted 200 points a year, our annual dues are around $850, so if we rent at $10/point the $1150 goes towards whatever vacation we want to go on. I know some folks don't like to rent their points out, but we have had a generally good experience doing this and really don't find it very burdensome.
I guess the short of it is, owning DVC forces my husband and I to take a vacation every year or rent our points out and use the money for a vacation. This isn't something I really thought about before we bought, but I am glad it works this way.
Also, when we do vacation at WDW, there is no better way to stay on site for the money. I don't think using your points for a cruise or a non DVC property like a WDW hotel is a good use of points. My husband and I went on a cruise with Norweigan this year that we paid for with rented points and we are going to Disney this December. If we used our points to take a cruise we would not have been able to vacation at WDW in the same year.
Just MHO. Hope this helps.